Get the free Closing Fee Sheet and ABA Attestation

WholesaleClosing Fee Sheet and ABA Attestation Please upload the completed form to the Portal in the Upload Documents screen within your loan. Borrower Name: Loan Number: Broker: Broker Contact: Phone:

How to fill out closing fee sheet and

How-To: Fill out a Closing Fee Sheet

1. Start by gathering all relevant information and documents required to complete the closing fee sheet. This might include the sales contract, title documents, lender instructions, and any additional fees or expenses related to the closing.
2. Begin with the basic details of the transaction, such as the names of the parties involved (buyer, seller, lenders, agents) and their contact information. Include the property address and any specific loan or mortgage details if applicable.
3. Next, itemize all the fees associated with the closing process. These may include loan origination fees, appraisal fees, title fees, escrow fees, notary fees, home inspection fees, and any other applicable charges. Provide a clear description of each fee and indicate the amount or percentage based on the agreement or contract.
4. Calculate the total closing costs by summing up all the fees. Include any adjustments or prorations, such as taxes, prepaid interest, or homeowner association dues, if applicable.
5. Indicate if the fees are payable by the buyer, seller, or split between the two parties. Clearly specify who is responsible for each fee and the agreed-upon payment terms.
6. Ensure accuracy by double-checking all the information and calculations on the closing fee sheet. Review it thoroughly to avoid any discrepancies or errors that may affect the closing process.
7. Once the closing fee sheet is completed, make sure all involved parties review and verify its accuracy. Consult with a real estate attorney, if necessary, to ensure compliance with local laws and regulations.

Who needs a Closing Fee Sheet?

1. Home buyers and sellers: Closing fee sheets are crucial for both buyers and sellers as they provide a detailed breakdown of the closing costs. This information helps buyers estimate their total expenses and assists sellers in understanding their proceeds from the sale.
2. Lenders: Lenders require a closing fee sheet to assess the buyer's financial obligations associated with the closing. This helps them determine the loan amount and ensure the buyer has sufficient funds to cover the closing costs.
3. Real estate agents and brokers: Closing fee sheets help agents and brokers have a clear understanding of the fees involved in the transaction, allowing them to better assist their clients throughout the closing process.

Note: It is essential to consult with a qualified professional, such as a real estate attorney or mortgage advisor, to ensure accuracy and compliance with local regulations when filling out a closing fee sheet.

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What is closing fee sheet?

Closing fee sheet is a document that outlines the fees incurred during a real estate transaction.

Who is required to file closing fee sheet?

The closing fee sheet is typically filed by the settlement agent or closing agent involved in the real estate transaction.

How to fill out closing fee sheet?

The closing fee sheet should be filled out accurately and completely, including all relevant fees and charges incurred during the transaction.

What is the purpose of closing fee sheet?

The purpose of the closing fee sheet is to provide transparency and clarity regarding the fees associated with a real estate transaction.

What information must be reported on closing fee sheet?

The closing fee sheet should report all fees, charges, and expenses related to the real estate transaction, including title fees, escrow fees, and appraisal fees.